Announcement Date: 2021-12-06
Announcement Type: Deposit Estimation
Announcement Code: NI43-101
Company name: Discovery Silver Corp.
Project name: Cordero
Location: Mexico
Commodities: Gold,Silver,Lead,Zinc
Highlight: Updated Resource Estimate for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Cordero is a silver deposit owned by Discovery Silver Corp. (Discovery) that lies in northern Mexico, in the south of the state of Chihuahua, approximately 600 km from the border with the United States (Figure 1.1). In addition to silver, the Cordero deposit has other base and precious metals of economic interest: lead, zinc, and gold. As shown in Figure 1.2 below, the precious metals account for slightly more than half of the in-situ value and the base metals account for slightly less than half. The deposit lies in a region that has a long history of silver mining, dating back to the 1600s. In the hills where the Cordero deposit lies, there are several small silver mines that worked rich silver veins that reached the surface. In the past two decades, the possibility of a large bulk-mining target at depth at Cordero was developed and tested through drilling done by Levon. Since 2019, when Discovery acquired the project in a merger with Levon, drilling has continued, with a focus on high-grade zones at depth, well below the reach of the small-scale historical mines, but within the reach of a modern industrial open-pit operation. Regionally, Cordero lies in an area where the sedimentary rocks of the Eastern Basin and Range geological province of Mexico meet the volcanic rocks of the Sierra Madre Occidental province. Locally, the rocks on the Cordero property are a mixture of sedimentary rocks and igneous rocks. There are three major belts of intrusions that cut across the property, all running southwest to northeast, parallel to the largest faults in the area, as shown in Figure 1.3.
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